GHM - Golden Horse Minerals

[System]

Golden Horse Minerals Limited is a mineral exploration company primarily focused on the acquisition, exploration and development of tenure in the vicinity of Southern Cross, Western Australia which is considered prospective for gold and lithium.

The Company's wholly owned Australian subsidiary, Golden Horse Minerals (Aust) Pty Ltd (formerly Altan Rio Minerals (Aust) Pty Ltd), holds the Company's interest in its flagship Southern Cross Project.

The Southern Cross Project is situated immediately north and south of the town of Southern Cross, in Western Australia, approximately 390km east of Perth and 220km west of Kalgoorlie. The Southern Cross Project tenements stretch approximately 95km northnortheast and 35km south from Southern Cross, and comprise prospecting licences, exploration licences and mining leases which are prospective for gold, nickel and lithium. The Project is split into three exploration zones, being the Southern Zone, Central Zone and the Northern Zone.

The Company also has entered into an option agreement to initially acquire a 10% interest in the Redbank Copper Project, located in the Northern Territory.

It is anticipated that GHM will list on the ASX during December 2024.

Home - Golden Horse Minerals

Gold and lithium potential in a tier 1 Mining Jurisdiction Golden Horse Minerals (TSXV: GHML) is a gold and lithium exploration company which has consolidated the rights to one of Australia's most successful gold provinces in Western Australia. Listed on the TSX Venture exchange, Golden Horse...

goldenhorseminerals.com

 

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Listing date	02 December 2024 ; 12:00 PM AEST ##
Contact details	https://goldenhorseminerals.com/ Ph: + 61 (0) 494 175 147
Principal Activities	Mining
Issue Price	AUD 0.25
Issue Type	Chess Depository Interests 1:1
Security code	GHM
Capital to be Raised	$18,000,000
Expected offer close date	15 November 2024
Underwriter	Not underwritten. Canaccord Genuity (Australia) Limited (Lead Manager). Euroz Hartleys Limited (Lead Manager)

 

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listed at 20c at start of the week ...
...and away...

 

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The Golden Horse tenure is more than 1,888km2 within the Southern Cross Greenstone Belt covering 130km of poorly tested stratigraphy and structure that has not been properly explored with modern techniques and tested by drilling below 50m depth.

The Belt spans approximately 300km in length and has produced more than 12 million ounces of gold. It is one of the top precious metals provinces in Western Australia.

The Greenstone belt consists of altered intrusive and meta-sedimentary rocks which are supported by two operating gold mills at the Marvel Loch and Edna May processing plants.

 

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MAIDEN DRILL CAMPAIGN AT SOUTHERN CROSS DELIVERS SHALLOW HIGH-GRADE GOLD INTERCEPTS​

HIGHLIGHTS:
• At Hakes Find a maiden drill program has delivered thick high-grade intercepts including:
o GHRC0009: 11m @ 3.36 g/t Au from 8m Including 1m @ 20.10g/t Au;
o GHRC0004: 8m @ 4.84 g/t Au from 26m Including 1m @ 25.89g/t Au;
o GHRC0003: 10m @ 2.14 g/t Au from 52m; and
o GHRC0011: 4m @ 8.35 g/t Au from 86m Including 1m @ 25.84g/t Au.
• The maiden drill program also tested and confirmed the historic Hakes Find drilling which delivered results such as:
o HDD002: 12m @ 3.49g/t Au from 24m;
o DVRC011: 11m @ 2.50g/t Au from 19m; and
o HDC017: 7m @ 4.10g/t Au from 46m.
• Hakes Find is seen by the Company as a shallow high grade project that has multiple parallel lodes, approximately 200 metres in strike and remains open along strike and at depth.
• Hakes Find is easily accessible by road and is located in close proximity to key infrastructure such as toll treating facilities and the Southern Cross townsite
• Planning is underway for metallurgical testing and further infill drilling to extend down-dip mineralisation and strike extensions associated with the historic workings at Hakes Find.

listed 3 months

 

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1. The reason for the trading halt is that Golden Horse anticipates making a material announcement in relation to exploration results at its Hopes Hill Project.

 

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Golden Horse anticipates making a material announcement in relation to exploration results at its Hopes Hill Project.

$0.34 .... up 25 per cent

OUTSTANDING RESULTS FROM PHASE 1
HOPES HILL DRILLING, Including 61m @ 2.5 g/t Au

Highlights:
• First assay results have been received from Phase 1 drilling from the Company’s now flagship Hopes Hill gold project in Southern Cross which show both wide and high-grade zones of mineralisation. The results include an outstanding drill intercept of:
61m @ 2.5 g/t Au from 91m (down hole) in GHHHRC0001:
• Incl. 8m @ 9.2 g/t Au from 144m;
• Incl. 3m @ 9.1 g/t Au from 105m; and
• Incl. 3m @ 7.8 g/t Au from 91m.
• Results also include:
29m @ 1.3 g/t Au from 113m (down hole) in GHHHRC0004:
• Incl. 4m @ 2.9 g/t Au from 113m;
• Incl. 4m @ 2.2 g/t Au from 138m;
• Incl. 3m @ 2.4 g/t Au from 128m; and
• Incl. 1m @ 4.5 g/t Au from 122m.
Assay results for the remaining 54 metres of GHHRC0004 are expected shortly.
• Historical drilling within the surrounding area of hole GHHHRC0001 demonstrated similar wide, high-grade intercepts including:
24m @ 1.9 g/t Au from 68m (down hole) HHRC197:
• Incl. 7m @ 5.0 g/t Au from 75m.
14m @ 2.8 g/t Au from 65m (down hole) HHRC269:
• Incl. 3m @ 7.6 g/t Au from 67m.
• These early results clearly demonstrate the enormous potential of the area with further assays expected shortly. Phase 1 drilling will continue for the next 3-4 weeks with the aim of further validating historical drilling and testing mineralisation and structural controls to extend known mineralisation.
• The Hopes Hill project was acquired from Emerald Resources NL in December 2024 as part of the purchase of an extensive 360km2 tenement package which also included several other highly prospective target areas.
• The historical Hopes Hill open pit mine is approximately 1,300 metres long with a maximum depth of around 90 metres.

 

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slippery... back to 25.5c

 

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slippery... back to 25.5c

tariffonomics, then an Ann.

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DRILLING AT HOPES HILL DELIVERS EXCEPTIONAL WIDE HIGH-GRADE INTERSECTION ​

Highlights:
• Latest assay results from the Central Zone at Hopes Hill deliver an exceptional 43m @ 4.5 g/t Au within a broader zone of 83m @ 2.5 g/t Au. These results highlight a potential for increasing grade and width with depth, reinforcing the potential of this zone:
GHHHRC0019: 43m @ 4.5 g/t Au from 103m, including:
• 14m @ 8.2 g/t Au from 132m,
• 8m @ 4.9 g/t Au from 107m, and;
• 7m @ 4.0 g/t Au from 120m
• The full mineralised zone of GHHHRC0019, which included the 43m @ 4.5 g/t Au, was an impressive 83m @ 2.5 g/t Au from 103m.
• Hole GHHHRC0019 is located approx. 50m below hole GHHHRC00011 which returned 61m @ 2.5 g/t Au from 91m and forms part of a 1.3 km long mineralised system that is open both along strike and at depth.
• To-date a total of 29 holes have been drilled since late January 2025 with multiple wide, high-grade intersections along the entire 1.3km historic Hopes Hill pit which clearly demonstrate we are working within a large gold system.
• Drilling at Hopes Hill will continue to test mineralisation at increasing depth below the existing pit (average depth 50m) and along strike with more results expected in the near future.

 

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$0.40

as well as Hopes Hill activity ^^

• Regional geochemical soil sampling continued during the quarter.
• Assay results, including those from soil sampling programs in 2024, were returned and gold anomalism requiring follow up was identified in a number of areas.
• The Irene Betty mining lease, at the south end of Hopes Hill was acquired, consolidating the tenure in this highly prospective and poorly tested area.
• Rock chip sampling at the Marionete prospect returned gold grades up to 100g/t gold.

CORPORATE
• Cash on hand at the end of the quarter was $10.8 million.

 

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$0.40

CORPORATE
• Cash on hand at the end of the quarter was $10.8 million.

$0.45

“The results of the indicative metallurgical recoveries for the Hopes Hill mineralisation are highly encouraging. The average of around 97% gold recovery indicates the potential for using the standard CIL/CIP treatment route, as available in the district. The Hopes Hill gold project continues to impress with another hurdle jumped as the project moves from a good to firm track. Further test work will be undertaken as part of the project development process to confirm expected plant recoveries – but these results are a great start.”
- Managing Director, Nicholas Anderson

 

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$0.45

SUCCESSFUL A$15 MILLION PLACEMENT TO ACCELERATE GROWTH ACROSS GOLDEN HORSE’S HIGH-GRADE SOUTHERN CROSS GOLD PROJECT​

Highlights:
• Successful completion of A$15.0 million placement which was strongly supported by new and existing shareholders, including a number of domestic and offshore institutions. Placement of 37.5 million new CHESS Depositary Interests at an issue price of A$0.40 per New CDI
• Emerald Resources NL, the Company’s major shareholder, and Directors of the Company have subscribed for approximately A$3.1 million and A$105,000 respectively, under the Placement, which is subject to shareholder approval to be sought at an upcoming General Meeting.
• Proceeds to be primarily used to accelerate and expand high-impact exploration at the Company’s Southern Cross Gold Project in Western Australia.
• RC drilling will increase by around 50% and a diamond drill rig will be added to the fleet. Drilling will focus on extending advanced high-grade targets across the +4km Hopes Hill trend including Hopes Hill Central, Hopes Hill North, Hopes Hill South and Irene Betty.

 

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$0.505

Highlights: Hopes Hill Pit Drilling
• Drilling results from the centre zone at Hopes Hill, have been received from four reverse circulation holes GHHHRC0041 to GHHHRC0044 , designed to test mineralisation at depth.
• Significant intercept results include:
Hopes Hill Main - Central Zone
GHHHRC0043: 10m @ 4.7 g/t Au from 279m
GHHHRC0043: 17m @ 1.5 g/t Au from 203m
Incl. 9m @ 2.2 g/t Au from 210m
GHHHRC0041: 18m @ 2.8 g/t Au from 203m
Incl. 8m @ 3.6 g/t Au from 203m
GHHHRC0042: 17m @ 2.4 g/t Au from 237m
GHHHRC0044: 19m @ 2.1 g/t Au from 206m
• Hole GHHHRC0043, has delivered an outstanding 10m @ 4.7 g/t Au from 279m which is 175m below the pit floor within the sheared ultramafic, demonstrating the potential for a new footwall mineralised zone.
• These results clearly demonstrate the continuity and tenor nature of the mineralisation at depth.

With diamond drill rigs mobilising, Hopes Hill will be tested further at depth whilst RC drilling continues to extend mineralisation to the north and south.